Pacific North West Capital Announces Effective Date of Share Consolidation and Name Change

January 31, 2017 Vancouver, British Columbia — Pacific North West Capital Corp. (“PFN”) (TSXV: PFN OTCQB: PAWEF FSE: P7J) announces that further to news release of January 25, 2017, PFN has received approval to implement its proposed three (3) old for one (1) new share consolidation and name change to New Age Metals Inc. (the “Company”). Effective at the opening of the market on February 1, 2017 the common shares of Pacific North West Capital Corp. will be delisted and the post-consolidated shares of New Age Metals Inc. will begin trading on the TSX Venture Exchange under its new trading symbol “NAM”.

Letters of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre-consolidated common shares for replacement certificates of New Age Metals Inc. representing the number of post-consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre-consolidated common shares will be deemed to represent the number of post-consolidated common shares of New Age Metals Inc. that the holder thereof is entitled to as a result of the consolidation. The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one-half will be rounded to the next whole share.

The Company’s website, newagemetals.com, is currently under construction and is slated for completion in the upcoming days. During this transition period, please visit pfncapital.com for more information about the Company’s projects.

On behalf of the Board of Directors

Harry Barr

Harry G. BarrChairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

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About Us

New Age Metals Inc. is a mineral exploration company, focused on the Discovery, Exploration and Development of Canada's largest primary Platinum Group Metals (PGM) deposits, The River Valley PGM Project, located in the Sudbury region of Ontario.